NFA permanently bans membership of LTG Trading LLC

Photo: Wikifx

The National Futures Association (NFA) recently announced on its official website that it has ordered the permanent prohibition of the entity LTG Trading LLC. (hereinafter referred to as "LTG") from applying to become a member of the NFA or as the principal of any NFA Member. It is reported that the entity is located in Orange Park, Illinois, and is registered as a member of the US Commodity Futures Trading Commission (CFTC). In addition, NFA also prohibits Gary Fullett, the former sole principal and associate of LTG, from becoming an NFA member and serving as the principal of NFA membership within five years.

The decision was issued by a hearing panel of the NFA, based on a complaint issued by the NFA Business Conduct Committee (BCC) and a settlement submitted by LTG and Fullett. The complaint alleges that LTG and Fullett failed to uphold high standards of business honor and fair and fair trade principles. The allegations also allege that LTG and Fullett did not obtain the written authorization required by customers to trade their accounts as appropriate, conducted misleading and deceptive sales solicitations, and used misleading and deceptive promotional materials.

Reprinted from Wikifx, the copyright all reserved by the original author.